Ice Make Net Profit Falls 47% despite Record Revenue Growth in FY26
Hyderabad, May 31 (TNT): Ice Make Refrigeration Ltd reported a sharp decline in net profit for FY26 despite posting record revenues, as strategic growth investments and one-time expenses weighed on profitability.
The company’s consolidated Profit After Tax (PAT) fell 47 per cent to ₹12.13 crore in FY26 from ₹22.90 crore in FY25, even as revenue surged 39.3 per cent to ₹668.20 crore.
Earnings per share also declined to ₹7.73 from ₹14.65 a year earlier.
For the fourth quarter ended March 31, 2026, net profit stood at ₹10.12 crore, down from ₹11.66 crore in the corresponding period last year, while quarterly revenue jumped 41.8 per cent to a record ₹255.85 crore.
In a release, the company said profitability was impacted by investments in capacity expansion, strengthening leadership and manpower capabilities, implementation of labour code provisions, warehouse network expansion, brand-building initiatives, and expenses related to energy-label transition and regulatory compliance. Higher depreciation and finance costs associated with growth projects also weighed on margins.
Despite the decline in profit, the Board recommended a final dividend of ₹2.25 per equity share for FY26, subject to shareholders’ approval.
Chairman and Managing Director Chandrakant Patel said FY26 was a year of transformation and strategic investment, with the company strengthening its manufacturing capabilities, product portfolio, distribution network and leadership team to position itself as an end-to-end refrigeration products and solutions provider.
Chief Executive Officer M. Srinivas Reddy said the company witnessed strong demand across food processing, cold chain, hospitality, pharmaceutical, retail and industrial refrigeration sectors.
He noted that newer product categories such as chest freezers, visi coolers and continuous panels had gained significant market acceptance and emerged as important growth drivers.
Ice Make Refrigeration which operates across cold rooms, commercial refrigeration, industrial refrigeration, transport refrigeration and ammonia refrigeration segments, has a presence in 24 countries and employs more than 1,200 people across manufacturing facilities in Gujarat, Tamil Nadu and West Bengal.
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